World Markets Olympic Challenge: China By The Numbers
Director of Market Data & Content Services, CBNC
Profile on China: China's Shanghai Index may not have made the medal round in our challenge (see the winners here), but with the 2008 Summer Game's set to begin today in Beijing, here is a look at China by the Numbers:
The People’s Republic of China stands as the fourth largest economy in the world measured by nominal GDP. As per IMF estimates, China’s GDP will increase by $1.3 trillion in 2008 from 2006 levels, a jump of 49.24%.
- In dollar terms, China’s GDP is estimated to grow by 21.23% in 2008 from 2007 levels
- China’s top exports in 2007 included office equipment, accounting for $87.1 billion, telecommunication equipment at $68.5 billion, and apparel and clothing at $61.9 billion, according to The Economist
- The Chinese yuan has appreciated by 6.04% versus the greenback, with one dollar purchasing 6.8622 yuan.
- The People’s Bank of China (PBOC) changed its policy on the yuan’s peg to the dollar on July 21, 2005, utilizing a trade-weighted basket of currencies instead. The current yuan central parity rate is set at 6.8555 to the dollar, with the PBOC allowing a trading band of 0.5% on either side, according to Thompson Reuters.
- China’s current interest rate is set at 7.47% (compare global interest rates here)
The Shanghai Stock Exchange (SSE) is the largest exchange in Mainland China. The SSE was founded on November 26, 1990, and began operating on December 19 of the same year.
- The Shanghai Composite Index closed in positive territory 156 times of the total trading sessions in 2007, or 64.5% of the time
- So far this year, the Shanghai Composite Index closed up 67 times of the total trading sessions, or 45.3% of the time
- The Shanghai Composite Index is off by 55.5% from its record intraday high of 6124.044, hit on October 16, 2007
- From 12/06 to 12/07, the Shanghai Composite Index posted a gain of 96.7%
- Year-to-date, it is down 48.2%
Here are some of the Chinese ADRs with the best YTD performance:
Chinese ADRs amongst the worst YTD performers include: